Over the past few months, analysts from some of the world’s leading financial institutions have been offering their analysis on what might happen following a ‘yes’ outcome in the September 18th referendum on independence in Scotland. The financial services industry in Scotland, and their umbrella group Scottish Financial Enterprise (SFE), has been paying close attention to the reports.
With just a week of political campaigning left, the outcome of the referendum has never looked less certain. Perhaps the only safe bet is that however Scotland votes on September 18th, there will be a transfer of powers and responsibilities from Westminster to Edinburgh whether through independence or significant further devolution as promised by the Unionist parties. Any change to the balance of power and function between Whitehall and Holyrood will have repercussions for both the Scottish Government and UK departments.
The economic outlook has been a central part of the referendum the debate, and currency, business prospects, and job creation all remain subjects of focus.
Today on the blog, David Bell discusses the employment sector in Scotland. He notes that since the creation of the Scottish Parliament, jobs growth in Scotland has been good by international standards but that employment hasn’t grown faster in Scotland than in the UK as a whole.
In a blog posted at Scottish Fiscal and Economic Studies, David Bell discusses job growth and the Scottish economy.
The number of jobs in Scotland has become another bone of contention in the referendum campaign. Let’s look at the facts.
The number of jobs in the Scottish economy has increased by 13.5 per cent since 1999, when the Scottish Parliament was established. The level of employment in Scotland is now 2.6 million, the highest level ever recorded.